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22.07.2013 18:03
Energo-pro Initiates Procedure against the Republic of Bulgaria to Settle Investment Dispute
The dispute between the Czech investor and the Bulgarian State emerged as a result of the policy of the State Energy and Water Regulatory Commission (SEWRC) for pricing electric power and compensation of the obligations for the purchase of electricity from renewable sources
AUTHOR: publics.bg


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Czech company said it ENERGO-PRO addressed the Republic of Bulgaria with a proposal for a voluntary settlement of investment dispute. The news comes as a reply to the new electricity prices model proposed by the state energy regulator.  The new model foresees a reduction in the costs of operation of the electricity distribution companies (charged in utility bills) and the compensation that end suppliers are paid for purchasing electricity from renewables directly connected to their grids. End suppliers, such as Energo-pro, CEZ and EVN, are obliged by law to buy all renewable energy produced by installations with capacity up to 5MW, which are connected directly to the distribution grid, instead of the high-voltage transmission grid.
 
Energo-pro said its claims were made with regards to violations of the international law and were based on the European Energy Charter and the Agreement between Bulgaria and the Czech Republic on promotion and mutual protection of investments.
 
If the dispute cannot be settled voluntary by way of negotiations, the investor affected might initiate international arbitration procedure, an official statement on the site of Energo-pro says.
 
The dispute between the Czech investor and the Bulgarian State emerged as a result of the policy of the State Energy and Water Regulatory Commission (SEWRC) for pricing electric power and compensation of the obligations for the purchase of electricity from renewable sources.

TAGS: Energo pro | Bulgaria | renewables | electricity | prices | regulation | lawsuit | EU 


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